Government Business (Sale Reforms) Act 2025
An Act to amend the Electricity Companies Act 1997, the Electricity Reform Act 2012, the Government Business Enterprises Act 1995, the Government Business Enterprises (Sale) Act 2003, the Irrigation Company Act 2011, the Metro Tasmania Act 1997, the Racing (Tasracing Pty Ltd) Act 2009, the Rail Company Act 2009, the Tasmanian Ports Corporation Act 2005 and the TT-Line Arrangements Act 1993
[Royal Assent 27 November 2025]
Be it enacted by Her Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:
PART 1 - Preliminary
This Act may be cited as the Government Business (Sale Reforms) Act 2025 .
This Act commences on the day on which this Act receives the Royal Assent.
This Act is repealed on the first anniversary of the day on which it commenced.
PART 2 - Electricity Companies Act 1997 Amended
In this Part, the Electricity Companies Act 1997 is referred to as the Principal Act.
5. Section 20 amended (Limitations on members of company)
Section 20(4) of the Principal Act is amended by omitting " Referendum Procedures Act 1994 " and substituting "Referendum Procedures Act 2004".
6. Section 20A inserted
After section 20 of the Principal Act , the following section is inserted in Part 3:20A. Parliamentary approval required in certain circumstances
If an Act intends to amend or repeal section 20(1) , a motion that approves that amendment or repeal must be passed by at least two-thirds of the members of each House of Parliament before a referendum is held in accordance with section 20(4) in respect of the amendment or repeal.
PART 3 - Electricity Reform Act 2012 Amended
In this Part, the Electricity Reform Act 2012 is referred to as the Principal Act.
8. Section 23 amended (Sale of retail business of Aurora Energy or subsidiary)
Section 23 of the Principal Act is amended by inserting after subsection (1) the following subsection:(1A) The Treasurer may only sell all, or part, of the retail business under subsection (1) if a motion that approves the proposed sale is passed by at least two-thirds of the members of each House of Parliament.
PART 4 - Government Business Enterprises (Sale) Act 2003 Amended
In this Part, the Government Business Enterprises (Sale) Act 2003 is referred to as the Principal Act.
10. Section 7A inserted
After section 7 of the Principal Act , the following section is inserted in Part 2:7A. Parliamentary approval required before sale
A Government Business Enterprise may only be sold under this Act if a motion that approves the proposed sale of the Government Business Enterprise is passed by at least two-thirds of the members of each House of Parliament.
PART 5 - Government Business Enterprises Act 1995 Amended
In this Part, the Government Business Enterprises Act 1995 is referred to as the Principal Act.
12. Section 10AA inserted
After section 10 of the Principal Act , the following section is inserted in Part 2:10AA. Sale of Government Business Enterprise
A Government Business Enterprise may not be sold otherwise than in accordance with the Government Business Enterprises (Sale) Act 2003.
PART 6 - Irrigation Company Act 2011 Amended
In this Part, the Irrigation Company Act 2011 is referred to as the Principal Act.
14. Section 11A inserted
After section 11 of the Principal Act , the following section is inserted in Division 1:11A. Limitations on members of Company
(1) A member of a Company must not sell or otherwise dispose of shares held by that member in trust for the Crown.(2) A member of a Company must not vote at a meeting of the shareholders of the Company to allow the Company to –(a) offer shares in the Company for subscription; or(b) invite persons to subscribe for shares in the Company; or(c) allot or issue shares in the Company on a basis other than to existing shareholders pro rata to their existing shareholding.(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.(4) For the avoidance of doubt, if there is an inconsistency between this section and the constitution, this section prevails to the extent of the inconsistency.
PART 7 - Metro Tasmania Act 1997 Amended
In this Part, the Metro Tasmania Act 1997 is referred to as the Principal Act.
16. Section 19A amended (Limitations on members of Company)
Section 19A of the Principal Act is amended by inserting after subsection (2) the following subsection:(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.
PART 8 - Racing (Tasracing Pty Ltd) Act 2009 Amended
In this Part, the Racing (Tasracing Pty Ltd) Act 2009 is referred to as the Principal Act.
18. Section 28 amended (Limitations on members of Company)
Section 28 of the Principal Act is amended by inserting after subsection (1) the following subsection:(1A) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.
PART 9 - Rail Company Act 2009 Amended
In this Part, the Rail Company Act 2009 is referred to as the Principal Act.
20. Section 33 amended (Sale of Company)
Section 33 of the Principal Act is amended as follows:(a) by omitting from subsection (4) "both Houses of Parliament have approved a proposal for" and substituting "at least two-thirds of the members of each House of Parliament have passed a motion that approves";(b) by omitting subsection (6) .
PART 10 - TT-Line Arrangements Act 1993 Amended
In this Part, the TT-Line Arrangements Act 1993 is referred to as the Principal Act.
22. Section 9A inserted
After section 9 of the Principal Act , the following section is inserted in Part 2:9A. Limitations on members of Company
(1) A member of a Company must not sell or otherwise dispose of shares held by that member in trust for the Crown.(2) A member of a Company must not vote at a meeting of the shareholders of the Company to allow the Company to –(a) offer shares in the Company for subscription; or(b) invite persons to subscribe for shares in the Company; or(c) allot or issue shares in the Company on a basis other than to existing shareholders pro rata to their existing shareholding.(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.(4) For the avoidance of doubt, if there is an inconsistency between this section and the memorandum and articles of the Company, this section prevails to the extent of the inconsistency.
PART 11 - Tasmanian Ports Corporation Act 2005 Amended
In this Part, the Tasmanian Ports Corporation Act 2005 is referred to as the Principal Act.
24. Section 11 amended (Limitation on sale of shares)
Section 11 of the Principal Act is amended as follows:(a) by inserting in subsection (1) "a motion approving" after "unless";(b) by inserting in subsection (1) "at least two-thirds of the members of" after "approved by";(c) by omitting subsection (2) .
[Second reading presentation speech made in:
House of Assembly on 9 SEPTEMBER 2025
Legislative Council on 25 SEPTEMBER 2025]